Select Income REIT is managed by Reit Management & Research LLC (RMR). RMR is a private company which was founded in 1986 to manage public investments in real estate. As of March 31, 2013, RMR manages a large portfolio of publicly owned real estate in North America, including over 1,700 properties, located in 46 states, Washington, DC, Puerto Rico and Ontario, Canada. RMR has approximately 830 employees in its headquarters and regional offices located throughout the country.
In addition to managing SIR, RMR also manages CommonWealth REIT (CWH), a publicly traded REIT that primarily owns and leases office buildings located in central business districts (CBDs), Hospitality Properties Trust (HPT), a publicly traded REIT that owns hotels and travel centers, Senior Housing Properties Trust (SNH), a publicly traded REIT that primarily owns healthcare properties and Government Properties Income Trust (GOV), a publicly traded REIT that primarily owns office buildings majority leased to government tenants. RMR also provides management services to Five Star Quality Care, Inc., a senior living and healthcare services company which is a tenant of SNH and to Travel Centers of America, LLC, an operator of travel centers which is a tenant of HPT. An affiliate of RMR, Sonesta International Hotels Corporation, is also one of HPT's hotel managers, and another affiliate of RMR, RMR Advisors, Inc., is the investment manager of a publicly offered mutual fund, which principally invests in securities of unaffiliated real estate companies. The public companies managed by RMR and its affiliates had combined total gross assets of approximately $23 billion as of March 31, 2013. RMR is a member of the U.S. Green Building Council and an Energy Star Partner.
We believe that our relationships and arrangements with RMR provide a competitive advantage to SIR because of RMR's depth of management and experience in the real estate industry. We also believe RMR is also able to provide management services to SIR at costs that are lower than we would have to pay for comparable services.